Despite Scarcity, FG Subsidises Petrol By N10.58/Litre

 

       Despite the fuel scarcity almost all though the nation, President Muhammadu Buhari is still subsidising by N10.58 for every litre of the product consumed across the country, latest figures from the Petroleum Pricing Regulatory Agency have shown.

Senate asks Nigerians if they should invite Buhari over the Fuel scarcity

 

      During plenary today, the senate deliberated on the current Fuel scarcity and one particular Senator suggested that

Confirmed: FG exempts NNPC, PHCN, BoI, FMBN, 10 others from Treasury Single Account

 

         The Office of the Accountant-General of the Federation has exempted 13 Ministries, Department and Agencies (MDAs) from the Treasury Single Account (TSA). In a circular released yesterday September 21st, the accountant general said they were exempted because they are entities classified as profit oriented government businesses, pay dividends to the Federal Government.

Kachikwu: We Saved $287m In Port Harcourt Refinery Turnaround Maintenance

         The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Emmanuel Ibe Kachikwu, has said Nigeria has saved over $287 million from the turnaround maintenance (TAM) of the Port Harcourt Refinery, Eleme.

Kachikwu made the disclosure shortly after an inspection tour of the refinery ON Wednesday.

He said foreign companies had requested to carry out the TAM at a cost of $297 million but the NNPC used its manpower and local oil servicing firms to achieve the maintenance at the cost of less than $10 million.

He said:

President Buhari Sacks NNPC Subsidiary Heads, Appoints 4 New Group Executive Directors, Reduces Top Management Staff

        President Muhammadu Buhari has fired nine of the 16 Managing Directors of the Strategic Business Units (SBUs) of the Nigerian National Petroleum Corporation (NNPC).

Those affected include Haruna Momoh who was the Managing Director of the Pipelines and Products Marketing Company (PPMC), Anthony U. Muoneke, Nigerian Petroleum Development Company (NPDC) and Group General Manager, of the National Petroleum Investment Management Services (NAPIMS) Engr. Jonathan Kwame Okehs, among other MDs.

Presidency Removes The Man in charge of Nigeria's Crude Oil Sales

 

        Operation block all avenues and routes where Nigeria's crude oil money is escaping from has commenced.

The restructuring of NNPC has continued as the firm’s Group Managing Director, Dr. Emmanuel Kachikwu, on Friday redeployed the GGM, Crude Oil Marketing Division, Mr. Gbenga Komolafe.

Nigeria Bars 113 Vessels From Lifting Its Crude Oil - Report

       A memo that originated from the Nigerian National Petroleum Corporation (NNPC) disclosed that President Muhammadu Buhari had directed the country’s oil corporation to bar 113 vessels from lifting Nigeria crude oil from 27 designated terminals.

Petrol Dealers: We Can’t Sell At N87 Per Litre

     The Petroleum Dealers and Owners Association in Ondo and Ekiti States monday declared that it       cannot sell fuel at the government approved price of N87 per litre.

The position of the association, was expressed at a news conference addressed by members against the sealing of their stations by the Department of Petroleum Resources (DPR), for selling fuel above the government recommended price.

'NNPC must die!' – Governor El-Rufai

          “NNPC (Nigeria National Petroleum Corporation) must die!” were the stern words of the Governor of Kaduna State, Mallam Nasir El-Rufai, on Monday in Abuja.

APC urges FG to probe past NLNG payments, condemns grandstanding opposition

 

Press statement from APC:

The All Progressives Congress (APC) has called on the Federal Government to urgently unravel what happened to the past Company Income Tax/Education tax as well as dividends paid to the Nigerian government by the NLNG, against the background of published reports that the funds were never paid into the Federation Account as they should have been.

APC, PDP battle over $5.5bn NLNG Funds

         ABUJA—THE All Progressives Congress (APC), yesterday, asked the Peoples Democratic Party (PDP) to account for $5.5 billion realised from Nigeria Liquefied Natural Gas (NLNG) since 2004.

FG Slashes Import Licenses To Oil Marketers From 43 To 29

          The Federal Government has issued licenses to import refine petroleum products to 29 marketers in a bid to end the fuel scarcity witnessed across the country.

The third quarter approval for import allocations to 29marketers signaled a significant reduction in the number of marketers previous issued with such allocations.

Vice President, Yemi Osinbajo Meets With Members Of Major Oil Marketers (PHOTOS)

        Vice President Yemi Osinbajo meets with members of Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA) and Independent Petroleum Marketers Association of Nigeria (IPMAN). See more photos below...

NNPC: So Our Refineries Can Work?

           Call it facing the realities of change that seemed impossible before now and you may not be wrong. Let us again remind the NNPC that refineries are national assets that should be guarded jealously. With potentials for up to 6000 investment opportunities when we refine a barrel of crude, our refineries are strategic for energy, technology, employment, skills, increased GDP and government revenue.